BUSINESS NEWS

  The Vice President of Ghana and Head of Economic Management Team,  Dr Mahamudu Bauwmia has said that analysts who say that Covid spending alone cannot be the reason for the increase in Ghana’s public debts are right. He said the banking sector cleanup exercise, as well as the excess …

A new Afrobarometer study has shown that a large majority of Ghanaians oppose the Electronic Transfer Levy (E-levy) because they think “it is a bad idea and will mean a greater tax burden on citizens.” The survey adds that many do not trust that the government will even use the …

The government’s consistent delay in the payment of contractors is further worsening its debt position.   This is according to the Ghana Chamber of Construction industry, which stressed that the government’s non-payment continues to attract penalties which balloon the amount owed them. CEO of the Chamber, Emmanuel Cherry stated that …

The Ghana Chamber of Bulk Oil Distributors has announced the appointment of Dr. Patrick Kwaku Ofori as its new Chief Executive Officer, effective August 1st, 2022. He will be filling the vacancy created by the departure of the Chamber’s founding CEO, Senyo Hosi, who is stepping down after 10 years …

The World Bank has said that 25% of Ghanaians who are into wage employment are better off than 69% who are into self-employment. The Bretton Wood institution therefore wants the government to pay attention to that. Speaking at the 6th Ghana Economic Update, Social Protection Specialist at the World Bank, …

The inability of fishermen along the Volta Lake at Akateng in the Upper Manya Krobo District of the Eastern Region to secure premix fuel for fishing has led to an acute shortage of fish in the area. Akateng is a major fishing community which supplies large quantities of fish to …

President of the Ghana Union of Traders Association (GUTA),  Dr Joseph Obeng has said the cancellation of road toll collection by the government was needless. Contributing to a discussion on the decision by the Government of Ghana to go to the International Monetary Fund (IMF), on TV3’s Key Points, Saturday …

The Local currency [Ghana Cedi  ] weakened to a fresh low against the dollar this week, depreciating to 8.04 from 7.95 at last week’s close. Amid mass protests over soaring inflation and its weakening currency, the country, late last week, reversed its decision to refrain from requesting international financial aid. …

The Food and Drugs Authority (FDA) has given clearance to Marwako Fast Foods to reopen its East Legon branch. The authority in a letter to the restaurant said it is satisfied with the progress it has made in implementing the various corrective prevention actions required following the closure of the …

The Bank of Ghana (BoG) has indicated that it will appeal a Court of Appeal ruling directing the central bank to reverse the revocation of the license of Savings and Loans Company UniCredit in 2019 . The Bank of Ghana said it has instructed its lawyers to appeal the decision …